Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 9 years ago, 04/30/2015

User Stats

807
Posts
473
Votes
Nat C.
  • Investor
  • Miami, FL
473
Votes |
807
Posts

Fourplex crisis

Nat C.
  • Investor
  • Miami, FL
Posted

This is the worst property situation I've had to date. I'm overwhelmed and not sure what to do. Any helpful advice would be appreciated. 

I bought this fourplex in December 2013. On Sunday a tenant reported sewerage back up. 

On Monday I sent a plumber. He cleared the blockage and told me there was 'a belly in the lateral line'. The plumbing was working for 24 hours, then the sewerage back up emerged again. City health department became involved and said I needed to move all tenant out immediately. I just relocated the tenants to hotels, which I'm paying for. 

I paid someone to clean down the whole area with disinfectant. The health department advised its not to their standards and I need to send another remediation company immediately.

Another plumber went this morning to inspect. Initially he told me $2000 to remove the lateral belly but upon inspection he said he believes its under the carpark and is beyond his capability. He said he thinks it will cost $20,000-$30,000. The property only cost $110,000 to buy. I'm out of the state which makes things difficult.

My head is spinning. I didn't get insurance for the building when I first bought it and was planning to get it under an insurance plan whilst I was in the US this time. Obviously it's too late now so there is no insurance coverage. 

Loading replies...